Mr. Matt Filgate reports

GREENLIGHT METALS ANNOUNCES EQUITY INCENTIVE GRANTS

Greenlight Metals Inc. has granted an aggregate of 2,067,488 incentive stock options and 238,378 restricted share units (RSUs) under its amended and restated equity incentive plan. Certain of the grants announced today implement compensation arrangements previously approved by the board in connection with FY (fiscal year) 2025 compensation. As previously determined by the board, a portion of FY 2025 bonus compensation for certain executive officers was to be settled in equity, with one-half of that equity portion to be settled in stock options and one-half in RSUs.

The options are exercisable at 37 cents per common share and expire on April 9, 2033. Of the options granted, 600,000 were granted to directors, 1,077,488 were granted to executive officers, 240,000 were granted to consultants and 150,000 were granted to an investor relations service provider.

The options granted to directors, executive officers and consultants vest 25 per cent on the grant date and 25 per cent on each of the first, second and third anniversaries of the grant date. The options granted to the investor relations service provider vest in four equal 25-per-cent tranches on the dates that are three, six, nine and 12 months following the grant date.

Of the RSUs granted, 148,378 were granted to executive officers and 90,000 were granted to a consultant. The RSUs granted to executive officers vest 50 per cent on April 9, 2027, and 50 per cent on April 9, 2028. The RSUs granted to the consultant vest in full on April 9, 2027. Each vested RSU entitles the holder to receive one common share of the company in accordance with the equity incentive plan.

The grants remain subject to the policies of the TSX Venture Exchange and, where applicable, acceptance by the TSX Venture Exchange. This news release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction.

About Greenlight Metals Inc.

Greenlight is a Wisconsin-focused exploration company advancing copper-gold and gold projects across the Penokean volcanic belt -- one of North America's most prospective VMS (volcanogenic massive sulphide) districts -- and the Kalium Canyon epithermal gold project in Nevada's Walker Lane. In Wisconsin, the company's portfolio includes the Bend copper-gold deposit, the Reef high-grade gold project, and the Lobo and Lobo East massive sulphide targets. Guided by a team with deep roots in the state, Greenlight is building a modern minerals company for Wisconsin, by Wisconsin -- committed to responsible exploration, transparent engagement and creating durable local opportunities as the company helps supply the critical metals that power the energy transition.

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